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Screen MOCPmt - Missouri Composite Payments, Extension, Pen and Int (1065)
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Payments
Total, or / Specific payments if unequal or not timely: 1st - 5th payment
Enter the total of all estimates made for the tax year in the
Total, or
field. UltraTax CS includes this amount on Form MO-1040 and the amount is applied equally to all quarters for the purpose of calculating the MO Composite Underpayment of Estimated Tax Worksheet. To override the way UltraTax CS applies the total to all quarters, enter actual amounts of estimated tax in the 1st payment
through 5th payment
fields. If amounts are entered in any of the individual payment fields, UltraTax CS ignores the value in the Total, or
field for purposes of calculating Form MO-1040 and the MO Composite Underpayment of Estimated Tax Worksheet.The first four fields in the
Date
column default to the respective quarters’ due dates and the fifth payment date defaults to the fourth-quarter date. If the payments were not made on the estimate due dates, enter the actual dates of payments in the fields provided. Treat calculated amounts as amounts paid / Calculated Amount
If the return was completed using last year’s application and estimates were calculated for the current year, UltraTax CS proformas the amounts into the
Calculated Amount
fields. If there has not been data entry for estimate payments, enter X
in the Treat calculated amounts as amounts paid
field to move the calculated amounts into the Amount
fields.Amount paid with extension
Each time you print the extension (via the File then Print Extensions), UltraTax CS:
- calculates the extension payment amount and enters it in this field, and
- prints this amount on the main return, not on the extension.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. UltraTax CS then displays the new amount in black.
note
- To delete the overruled amount and restore the original calculated amount, right-click the field and choose Delete overrule.
- To confirm the accuracy of the overruled amount, right-click the field and choose Acknowledge overruled data. UltraTax CS then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you will need to enter it manually.
- If desired, you can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.
Extension
Calculate extension payment
If you leave this field blank and run the extension utility, UltraTax CS automatically selects the extension form to be used. If the federal return is extended Form MO-60 will not print because Missouri accepts the federal Form 7004. If the federal return is not extended, Form MO-60 with 100 percent of the tax liability. If the federal return is not extended, Form MO-60 will print. Enter
1
to use Form MO-60 with 100 percent of the tax liability. Enter 2
to print Form MO-60 with 90 percent of the tax liability. Enter 3
to print federal Form 7004. To print the extension, choose File then Print Extensions.Extended due date
If you have printed an extension by choosing File then Print Extensions, or entered an option in the
Calculate extension payment
field, the extended due date automatically appears in this field. The extended due date is also reflected in the filing instructions.Tentative total state tax (Force)
If you enter an amount in this field, UltraTax CS enters this amount on Form MO-60 as tentative amount of the tax for the taxable year, enters
1
in the Calculate extension
field, and completes the Extended due date
field.Balance due on extension (Force)
If you enter an amount in this field, UltraTax CS enters this amount on Form MO-1040, Page 2, selects the first option in the
Calculate extension payment
field, completes the Extended due date
field, and displays the amount in the Amount paid with extension
field.Penalties and Interest
Date return filed
UltraTax CS calculates penalties and interest if the date entered in this field is later than the original due date of the return or the extended due date, if applicable. If the field is blank, the date defaults to the calculated due date of the return.
Suppress penalties on return: Underpayment of estimated tax
Enter
X
to suppress the printing of Form MO-2210 and the calculation of the Form MO-2210 penalty on the composite return. UltraTax CS prints Form MO-2210 and includes the underpayment penalty on Form MO-1040, Page 2 if this field is blank and the underpayment penalty is due.note
To suppress the penalty but print the form, enter
X
in the Underpayment of estimated tax
field. Choose Setup, 1065 Partnership, then Missouri tab and select the Tax Return button. Select Form MO-2210 and choose the Always if data
option to force UltraTax CS to always print the form when it contains relevant data.Suppress penalties on return: Late interest
Enter
X
to suppress the late payment interest on the return. UltraTax CS prints the MO Composite Late Filing Interest and Penalty Worksheet if this field is blank and late interest is due. The MO Composite Late Filing Interest and Penalty Worksheet also prints if the Failure to file
or Failure to pay
fields are blank and a failure to file or failure to pay penalty exists.Suppress penalties on return: Failure to file
Enter
X
to suppress the failure to file penalty on the return. UltraTax CS prints the MO Composite Late Filing Interest and Penalty Worksheet if this field is blank and the failure to file penalty is due. The MO Composite Late Filing Interest and Penalty Worksheet also prints if the Late interest
or Failure to pay
fields are blank and if late payment interest or a failure to pay penalty exists.Suppress penalties on return: Failure to pay
Enter
X
to suppress the failure to pay penalty on the return. UltraTax CS prints the MO Composite Late Filing Interest and Penalty Worksheet if this field is blank and the failure to pay penalty is due. The MO Composite Late Filing Interest and Penalty Worksheet also prints if the Late interest
or Failure to file
fields are blank and if late payment interest or a failure to file penalty exists.note
UltraTax CS prints the MO Composite Late Filing Interest and Penalty Worksheet when penalties or interest exist. If the
Late interest
, Failure to file
, and Failure to pay
checkboxes are all marked, the MO Composite Late Filing Interest and Penalty Worksheet does not print.